$OBDC

Why the BDC Selloff Is a Narrative Problem, Not a Fundamental One. $OBDC There's been a lot of fear around Blue Owl and the BDC space this week. I want to cut through the noise for our community. OBDC II — a private, non-traded fund — stopped quarterly redemptions. The media called it a crisis. But the reality is much simpler: this was a mature fund reaching its end of life, and investors were redeeming at full NAV to buy the same loans on the public market at a 20% discount. It was an arbitrage play, not a run on bad credit. Blue Owl's response actually proved the loan book is rock solid — they sold $1.4B of loans at 99.7% of par to major pension funds, with demand far exceeding supply. OBDC's fundamentals remain strong: non-accruals fell to 1.1%, portfolio companies are growing reven